AsemconnectVietnam - Binh Duong Construction and Transport Joint Stock Company (code BCE - HOSE) recorded a loss of VND11.61 billion in the second quarter of 2024, with a cumulative loss of VND16.3 billion in the first half of 2024, increasing the accumulated loss to the end of the second quarter of 2024 to VND54.91 billion.

In the second quarter of 2024, Binh Duong Construction and Transport recorded revenue of VND16.56 billion, down 41.2% year-on-year, and after-tax profit recorded a loss of VND11.61 billion compared to a loss of VND1.65 billion in the same period, increasing the loss by VND9.96 billion.
Binh Duong Construction and Transport said that the revenue decrease was mainly due to the loss of real estate revenue when it was not recorded compared to the same period, which recorded VND7.22 billion. In addition, during the period, construction revenue decreased by 21.7% compared to the same period, equivalent to a decrease of VND3.2 billion to VND11.52 billion; revenue from selling goods and finished products decreased by 18.8%, equivalent to a decrease of VND1.17 billion to VND5.04 billion.
During the period, the Company operated below cost price, leading to a negative gross profit of VND1.17 billion compared to the same period, a positive VND7.86 billion, a decrease of VND9.03 billion. In addition, during the period, financial expenses decreased by 49.8%, equivalent to a decrease of VND1.1 billion to VND1.11 billion; sales and business management expenses increased by 30.5%, equivalent to an increase of VND2.05 billion to VND8.78 billion and other activities fluctuated insignificantly.
Thus, operating below cost price, along with pressure on sales and administrative expenses, led to losses in the second quarter.
In the first half of 2024, Binh Duong Construction and Transport recorded revenue of VND27.15 billion, down 23.6% year-on-year, and recorded a loss of VND16.3 billion after tax compared to a loss of VND9.98 billion in the same period, an increase of VND6.35 billion in losses.
In 2024, Binh Duong Construction and Transport plans to have revenue of VND733.26 billion and profit after tax of VND25.75 billion.
Thus, ending the first half of 2024 with an additional loss of VND16.3 billion, Binh Duong Construction and Transport is still far from the plan to make a profit in 2024.
With continued losses in the first half of 2024, as of June 30, 2024, the total accumulated loss of Binh Duong Construction and Transport is VND54.91 billion, equal to 15.7% of charter capital (charter capital of VND350 billion).
In addition to the loss-making business, as of June 30, 2024, the total assets of Binh Duong Construction and Transport decreased by 15.5% compared to the beginning of the year, equivalent to a decrease of VND106.86 billion to VND580.78 billion. Of which, the main assets are short-term receivables recorded at VND371.98 billion, accounting for 64% of total assets; Fixed assets recorded VND66.1 billion, accounting for 11.4% of total assets; long-term receivables recorded VND43.4 billion, accounting for 7.5% of total assets; inventories recorded VND40.2 billion, accounting for 6.9% of total assets ...
During the period, assets decreased mainly due to short-term receivables decreasing by 12% compared to the beginning of the year, corresponding to a decrease of VND50.81 billion to VND371.98 billion; long-term receivables decreased by 50.1%, corresponding to a decrease of VND43.5 billion to VND43.4 billion...
N.Nga
Source: VITIC/Tinnhanhchungkhoan